1. Sophia is a single mom with a 17-year-old daughter whom she claims as a...
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1. Sophia is a single mom with a 17-year-old daughter whom she claims as a dependent on her tax return. Sophias AGI is $35,000, and her tax liability is $1,771. She has no other nonrefundable credits. What is the amount of her child tax credit/credit for other dependents?
a) $ 0
b) $1,771
c) $ 500
d) $2,000
2. Mia and Noah have four children, ages one month, 13, 15, and 19. Their AGI is $96,500, and their tax liability is $8,322. During the tax year, their 19-year-old son decided to postpone going to college and got a job instead. He earned wages of $7,400 and provided most of his support. They have no other nonrefundable tax credits. What is the amount of their child tax credit/credit for other dependents?
a) $8,000
b) $6,000
c) $6,500
d) $4,000
3. Joshua is a 25-year-old graduate school student who paid $15,000 in tuition and fees to an eligible educational institution in 2018. He received a Form 1098-T. Joshua works part-time at a local firm and had wages of $22,500. He has no other income or nonrefundable tax credits. His tax liability on Form 1040, line 11 is $1,073. What is the amount of his education credit for 2018?
a) $3,000
b) $2,000
c) $1,073
d) $2,500
4. The Greens are filing jointly with modified AGI of $86,000. During the tax year, they paid $9,500 in qualified education expense for their son, Erics, first year of college. They have no education expenses for themselves. What would be the Greens maximum allowable education credit?
a) $ 0
b) $1,500
c) $1,900
d) $2,500
yes this is US taxation
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